Kansas-based technology services company Wachter Inc. will hire 116 employees in Northwest Arkansas as part of plans to expand employment to 464 workers in the region by 2026.
“The expansion of our Lowell facility will enable Wachter to remain agile and competitive as we provide crucial infrastructure and cutting-edge technology solutions to our customer base – in Northwest Arkansas and across the country,” Wachter CEO Brian Sloan said. “Our dedicated employees are our greatest asset, and we’re proud to invest in and grow the team in Lowell.”
According to the Arkansas Economic Development Commission, the only financial incentive agreement or documentation that it has with Wachter is the Advantage Arkansas Program. This is a performance-based income tax credit program for job creation.
To qualify for the program, the proposed average hourly wage of the new employees hired as a result of the project must be at least $14.11. The tax credit is earned each year for five years. It cannot offset more than half of a business’ income tax liability in a year and may be carried forward for nine years. The credit begins in the tax year the employees are hired.
According to a company spokeswoman, Wachter will address the expansion of its Lowell facility next year, but it’s expected to include warehouse and office space that will be added to the existing building. The timeline for completion has yet to be determined.
“Wachter embodies Arkansas’ entrepreneurial spirit — adapting to today’s challenges and finding solutions to make companies run smoothly and efficiently with the latest technology,” said Gov. Asa Hutchinson.
Swiss immigrant William Wachter founded the company more than 90 years ago. Its customers range from small businesses to Fortune 500 corporations.